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Accounting chapter 1 (1)
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Resources of a company.
Assets
Amounts owed to creditors.
Liabilities
owners', claims to resources, which equal the difference between total assets and total liabilities.
Stockholders equity
Equation that shows a company's resources (assets) equal creditors' and owners' claims to those resources (liabilities and stockholders' equity).
Accounting equation
Assets- Liability=
S.E
are the amounts recorded when the company sells products or provides services to customers.
Revenue
Distributions by a corporation to its stockholders
Dividends
are the costs of providing products and services.
Expenses
measures the difference between revenues and expenses
net income
A system of maintaining records of a company's operations and communicating that information to decision makers.
Accounting
Operating cash flows + Investing cash flows+ Financing cash flows
change in cash
Author
hey_itsdarra
ID
334107
Card Set
Accounting chapter 1 (1)
Description
chapter 1
Updated
2017-09-11T06:14:02Z
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